Maryland State Retirement & Pension System Buys 1,227 Shares of BlackRock $BLK

Maryland State Retirement & Pension System boosted its stake in BlackRock (NYSE:BLK) by 15.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,406 shares of the asset manager’s stock after acquiring an additional 1,227 shares during the quarter. Maryland State Retirement & Pension System’s holdings in BlackRock were worth $9,954,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Capital Management LLC bought a new position in shares of BlackRock during the second quarter worth about $33,847,000. Varma Mutual Pension Insurance Co bought a new stake in BlackRock in the 2nd quarter valued at approximately $28,185,000. Haverford Trust Co bought a new stake in BlackRock in the 2nd quarter valued at approximately $264,500,000. Liberty One Investment Management LLC boosted its position in BlackRock by 30.7% during the 1st quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager’s stock worth $4,675,000 after acquiring an additional 1,141 shares during the last quarter. Finally, Basswood Capital Management L.L.C. acquired a new position in BlackRock during the 2nd quarter worth approximately $23,122,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 7,000 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $1,219.55, for a total transaction of $8,536,850.00. Following the transaction, the director directly owned 6,065 shares in the company, valued at $7,396,570.75. The trade was a 53.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.92% of the stock is owned by corporate insiders.

BlackRock Stock Down 0.8%

BLK stock opened at $1,216.48 on Friday. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $1,111.47 and a two-hundred day moving average price of $1,067.29. The company has a market cap of $188.40 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 1.27 and a beta of 1.37. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,242.12.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.32 by $1.61. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 15.60%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.43 earnings per share. Analysts anticipate that BlackRock will post 57.82 EPS for the current fiscal year.

Analyst Ratings Changes

BLK has been the subject of several research reports. TD Cowen raised shares of BlackRock from a “hold” rating to a “buy” rating and raised their price target for the stock from $1,212.00 to $1,405.00 in a research note on Tuesday, October 20th. Barclays cut their price objective on shares of BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. BNP Paribas Exane increased their target price on shares of BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Evercore reaffirmed an “outperform” rating and issued a $1,275.00 target price (down from $1,300.00) on shares of BlackRock in a research report on Friday, October 9th. Finally, Morgan Stanley lifted their price target on shares of BlackRock from $1,468.00 to $1,531.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,342.25.

Latest BlackRock News

Investors following BLK have been watching these news items:

• Positive Sentiment: BlackRock’s expansion in private markets, strategic acquisitions and record $15.49 trillion in assets under management are cited as potential long-term growth drivers, though rising expenses could temper the benefit. Article: BlackRock’s Private Markets Expansion: A Key Long-Term Growth Driver?
• Neutral Sentiment: BlackRock’s participation in a London forum on Ethereum reflects institutional interest in tokenization and blockchain settlement, but the report describes discussion rather than a specific business announcement. Article: Ethereum Draws Wall Street Attention As BlackRock And JPMorgan Join London Forum
• Negative Sentiment: Director Rachel Lord sold 7,000 shares, reducing her reported ownership by 53.58%. Insider sales can raise concern, although the filing does not establish the reason for the transaction. SEC filing: BlackRock Form 4

BlackRock Company Profile

BlackRock, Inc. is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world. BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.